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OK HB2775
Bill
Status
5/29/2025
Primary Sponsor
Trey Caldwell
Click for details
AI Summary
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Authorizes the Oklahoma Capitol Improvement Authority to allocate $41,600,000 from the Legacy Capital Financing Fund to the Military Department of the State of Oklahoma
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Funds designated for constructing, refurbishing, or expanding military-related facilities in Oklahoma
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Twenty-year recapitalization payment period will not begin until the state fiscal year starting July 1, 2026
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Authority may distribute the funds in one or more tranches
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Authority may enter memoranda of understanding with state agencies to facilitate implementation, provided they do not create legal obligations for the state or impede the Legacy Capital Financing Act
Legislative Description
Capitol Improvement Authority; allocation of funds from the Legacy Capital Financing Fund; utilization for purpose of benefitting the Military Department; requiring certain recapitalization payments.
Last Action
Becomes law without Governor's signature 05/29/2025
5/29/2025